LaSalle Investment Management (“LaSalle”) has acquired an office building let to Repsol in General Lacy, nº 23.
The property was the headquarters of Aguirre Newman which vacated the premises in June after being acquired by Savills in early 2018. In December, Repsol relocated over 400 employees to the property, following their acquisition of Viesgo’s gas and electricity retail business and their unregulated low-emissions electricity generation businesses from Macquarie and Wren House, for €750 million.
The Méndez Álvaro neighborhood, between Atocha and the M-30, is enjoying strong investor interest and houses the headquarters of various companies. Since 2013, Repsol’s main headquarters are located in Calle Mendez Álvaro nº 44, less than 850m from the property which LaSalle has bought. Other companies have opened offices in the area, including Amazon, Adif, Mahou, CLH and Ericsson. In addition, Acciona plans to install its corporate headquarters in the area and Colonial is also developing a business complex.
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.